Mar 12
24
Applying a NRI PAN card is EASY.!!
What is a PAN CARD for?
A Permanent account number is also known as a PAN. You can use this number as your own personal ID or as a tax id number. This number is given to everyone by the income tax department for you to use as a tax id. This card will look the size of a credit card. It will mention your name, birth date, father’s name, and it will have your photo. It will also have your signature along with your pan number.
If you are ever looking to file taxes, buy property, open a bank account, etc. in India, you need to have a pan card number handy. This is true even for the Non Resident Indians…or NRIs. If you are looking to invest in India or open up a demat account, again, you need a pan card number. If you apply for a pan card ahead of time, it can help you in the future as not having one, will hold up any/all of your investment plans for at least 15 days. The income tax department uses pan card numbers as a way of keeping track of who is paying their taxes on time and who is not.
Are you required to file Taxes in India as long as you have a PAN Number?
Having a pan number does NOT mean that you have to file taxes in India. If you are not makeing money in India, you do not have to pay taxes in India. If an NRIs is making money in a foreign country, then that means that he only needs to file taxes in that country where he/she is making money. If you were to invest into a mutual fund in India and then you make money on it, you will have to pay taxes in India for the profit that you have made. Even if you are not making money in India, if you are associated with india in any way, it is still advisable for you to file your taxes in India. If you did not make any money in India, you can simply file your taxes as “0″. Doing this will give you a very good credit rating in India for the future. This can benefit you if you would even need to apply for a loan in the future. Filing Taxes does not mean that you are paying anything in taxes. If you are an Indian, you should file taxes even if you are an NRI.
How to apply for a PAN card?
NRIs can apply for a pan card online. There are many brokers online that can help you when you are living abroad. When NRIs go through the government directly for a pan card, they usually have issues because they are living abroad, so this is how these brokers come in handy.
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An example of a pan card broker online is: www.PanCardNri.com
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>> You will need to submit some documents along with your pan applications and you might have to have them attested by the Indian embassy or apostilled.
This is a step by step process for getting a pan card number if you are an NRI.
Number 1: Go to a pan card broker site such as: www.PanCardNri.com
Number 2: Go to the “apply now” page and make a payment, then get the forms.
Number 3: The representatives of www.pancardnri.com can help you through the whole process and answer any questions you might have. They also provide you with a full set of instructions for filling the forms.
Number 4: After you fill up the form, send it along with the required documents to their Pan card processing office.
Number 5: The broker will then get all of the remaining attestation done and then submit your application in the pan departments office.
Number 6: The pan department will give a coupon number for the submission. It will be the broker’s job to take it and email it to you.
Number 7: You can track your pan application as it is being processed using this coupon number.
Number 8: Finally, your pan card will be dispatched to your foreign address and you can receive it at the address mentioned on your application.
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